2nd ROUND CONTESTANTS

FreyerMartin is a leader in the growing daily money management industry. We manage household/personal bills and other “financial details” for executive-level individuals who have heavy demands on their time but want to maintain strong personal finances.

Through our turnkey service, client bills come directly to us, where they are reviewed for reasonableness and paid from a bill-paying account funded by the client. If a bill doesn’t arrive when expected, we track it down. When something looks unusual, we identify it, resolve it, and notify the client.

Why personal bill-paying? Our economy is characterized by specialization, producing consumers who are increasingly more comfortable outsourcing not just business functions, but personal tasks. Today’s frenetic schedules have led people to hire services that mow their lawns, clean their homes, and walk their dogs. Paying their bills is a natural progression. Online bill pay is brilliant, but the FreyerMartin value is evident when answering the question, “Will online bill pay call the cable company when the bill is wrong?” We will. Other benefits include increased credit scores, improved cash flow, and access to a personal representative who is always available.

Profit, targeted at 20%, is earned on core service plans that are priced at a flat monthly rate, which is innovative for the industry. Additional revenue is earned from account setup fees as well as extra services requested by clients during the month.

How large is the market? Forrester predicts 72 million online banking and/or bill pay users by 2011. If even .005% of them enrolled in FreyerMartin Executive BillPaySM, the company would exceed $32,000,000 in annual revenue with EBITDA of nearly $6,500,000.

We plan to be the first nationally recognized name in the country, and the bar by which every competitor is judged. The FreyerMartin difference is noticeable: of over 500 individual industry members and 31 companies nationwide, FreyerMartin is one of only a few “full-service” firms. We approach the industry and our business seriously, and have invested nearly $75,000 in defining and implementing industry best practices. Our approach to developing clients is unique. Where other providers network with small referrers like CPAs and bankers, we approach companies as an executive perk.

FreyerMartin was founded in 2003 by Carla Morelli, then a consultant and an 11-year finance and technology veteran. After needing the service in the late 90s and being unable to find anything suitable, Ms. Morelli set out to create the perfect bill-paying firm. In the past 18 months, high-level talent has been added from both large corporate and entrepreneurial environments to prepare for the growth over the next 18-24 months. Funding sources to date include Ms. Morelli, private investors, bank credit vehicles, and cash flow from operations.

If selected, the premium will be used for:

Continued development of an industry-standard client management system to increase efficiency/profit and add a new source of revenue.